brokerages rallied after the shanghai and shenzhen bourses said they were nearly double the scale for margin trading. vol vo agreed to buy a 45% stake in its commercial vehicle unit. meanwhile, shares in hong kong gained a modest 0.4%. but china's costco's h share split about 5% after after the shipping giant warned a second straight year of significant loss due to freight rates. the kospi extended it's four-day losing streak. automakers dragged tin decks low. australia's asx 200 is out for a public holiday. india's sensex is currently trading along the flat line. now back to you, kelly. >> thank you for that. we want to turn our attention to asia. jonathan stubb joins me now. good morning. >> good morning. >> you've got the pullover look going, the zip up look. i like it. i just want to talk a little bit about equities broadly. is one of the real questions coming into this year after the run up we've seen in european stocks this year, how much further can we go here? >> looking in the medium term of the next two years, we're looking at 25% to 30% returns which sounds like a lot. base